Deep value investing is the identification of attractive investment opportunities with limited downside and significant upside. In contrast to growth investing, we look at places with pronounced mispricing – in the unloved, neglected, ignored and feared stocks.

This investment philosophy was developed by Benjamin Graham, better known as Warren Buffet’s teacher. To give you an idea of the regard that Buffett has for Graham, he routinely describes Graham as the man who changed his life, and on the cover of Graham’s book The Intelligent Investor, Buffett writes simply: “By far the best book on investing ever written.” High praise from one of the world’s most successful investors.

In short, the crux of deep value investing is that any investment should have an intrinsic value substantially more than an investor has to pay for it. Instead of chasing growth and future returns, Graham believed in buying undervalued stocks with a …